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Increased market activity prompts Asian LNG spot price rise

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LNG Industry,

Reuters is reporting that Asian LNG spot prices have recently experienced a small rise, due to several buyers looking to purchase cargoes in light of the recent hot weather in Japan, South Korea and China.

After some cargoes were recently sold for less than US$4.00 per million Btu for the first time in three to four years, Asian LNG spot cargoes are now selling just above the US$4.00 per million Btu mark.

LNG spot cargoes for delivery to northeast Asia are currently estimated to be approximately US$4.20 per million Btu – 10 cents higher than the last reported estimates. Spot prices for October are currently estimated to be US$4.75 per million Btu.

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